Blueberry,
the Forex and CFD broker formerly known as Blueberry Markets, has rolled out a
new transaction reporting system in Australia. The system integrates TRAction’s
reporting solution with the popular MetaTrader 4 (MT4) platform, aiming to
simplify the broker’s regulatory compliance processes.
Blueberry Streamlines
Regulatory Reporting with New TRAction and MT4 Integration
This launch
comes on the heels of Blueberry Australia Pty Ltd, the company’s local entity,
receiving approval from the Australian Securities and Investments Commission
(ASIC) to operate as a retail CFDs brokerage.
The new
integration is designed to streamline ASIC transaction reporting for Blueberry,
addressing the growing complexity of compliance requirements in the financial
sector.
“This partnership
showcases our commitment to delivering seamless and compliant solutions,
alleviating the burden of trade reporting on teams and allowing for increased
capacity to focus on services,” Quinn Perrott, co-CEO at TRAction, commented.
The system
allows TRAction to pull data directly from MT4, ensuring accurate and timely
reporting submissions. This capability is particularly valuable given recent
regulatory changes, including updates to EU EMIR Refit and upcoming
modifications to similar rules in the UK, Australia, and Singapore.
“As a globally
regulated broker, precise and efficient data reporting is the cornerstone of
our commitment to trust and transparency with our clients and regulators,”
Dean Hyde, Founder and Managing Director of Blueberry, said.
“This integration with
TRAction and MT4 not only simplifies our complex reporting requirements but
also keeps us at the forefront of evolving regulatory demands, allowing us to
consistently deliver an unparalleled trading experience,” Hyde added.
The launch
of the new reporting system coincides with Blueberry’s recent rebranding
efforts. The company dropped “Markets” from its name and refreshed its visual identity with a new logo and platform design.
Blueberry Launched Prop Trading Platform
Blueberry
Markets, like several other brokers, previously grey-labelled MetaTrader
licenses to prop trading firms. However, earlier this year, multiple props reported
that Blueberry had asked them to halt new client onboarding on MT platforms.
This move came in response to regulatory scrutiny surrounding MetaQuotes’
popular trading tools in the United States.
Seizing the
opportunity, Blueberry decided to follow the trend of many regulated FX/CFD
brokers by launching its own proprietary trading platform called Blueberry Funded. This initiative took
place during the summer months of 2024.
The prop
trading space has seen an influx of brokers offering similar services.
ThinkMarkets, IC Markets, Traders Trust, and Trade.com are among the latest
entrants to launch prop trading services, capitalizing on the growing
popularity of such offerings in the retail trading sector. They join early
adopters like OANDA, Hantec Markets, and Axi, who were among the first
established brokers to enter this market.
This article was written by Damian Chmiel at www.financemagnates.com.
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